Australian government analysis warns that reliance on Indian coal imports poses ‘significant risk’

first_img FacebookTwitterLinkedInEmailPrint分享The Guardian:Thermal coal exporters face “significant risk” that demand from India will decline, a report by the Australian office of the chief economist says. It also warned of long-term uncertainties in the market considered a “great hope” by miners.The report, released on Friday, came as the resources minister, Matt Canavan, prepared to visit India to promote the Australian resources sector. He argued India has an “astonishing” appetite for Australian thermal coal that could support “three to four new Adani-sized coalmines.” But those comments appeared at odds with the conclusions of the government’s economic advisers: that while India and southeast Asia were seen by the resources industry as a “bright light” that could help sustain Australian thermal coalminers as industrialised nations pivot away from fossil fuels, the outlook in India was “finely balanced and uncertain.”“While India is one of the great hopes for thermal coal exporters, alongside southeast Asia, it also presents significant risk,” the first paragraph of the report said. “If India’s thermal coal imports decline, there could be substantial implications for seaborne markets.”The argument being pushed by advocates of the thermal coal sector, that growth in these new markets could support new mines – or a new coal basin – ignores the more dramatic shifts away from coal in developed economies, analysts said.Tim Buckley, the director of energy finance studies at the Institute for Energy Economics and Financial Analysis, said: “The hope was that India and southeast Asia might provide something of a cushion [for the thermal coal industry] on the way down. But this isn’t a gentle slide to oblivion.”Buckley said solar power in India was three times cheaper than the assumptions used in the chief economist’s report, based on outdated IEA predictions. “They’re underestimating the importance of low-cost renewable energy,” he said. “Growth of thermal coal demand in India is financially challenged by the fact renewable energy is 30% cheaper, so what bank in their right mind would finance a new coal-fired power plant?”More: Australian thermal coal exporters warned of falling demand from India Australian government analysis warns that reliance on Indian coal imports poses ‘significant risk’last_img read more

Trail Mix: The Willow Tree Turns One

first_imgTeri Dosher and her daughter, Zoe, at The Willow Tree Coffee House & Music Room.I have been involved with booking festivals and concerts for much of the last decade. One thing I have learned is that the music business can be amazingly fickle and money can be made – and lost – very quickly. That latter reality has had me working on a volunteer basis in all of my endeavors – sure, I don’t make any money, but I am able to feed my musical addiction and, at the same time, don’t risk losing money, either.Teri Dosher, proprietor of The Willow Tree in Johnson City, Tenn., shares my passion for live music. But, I admit, she is much braver than I. Teri was willing to mate her money with her vision and open a music room of her very own.Last week, The Willow Tree wrapped up a month long celebration of its first year in business. Teri and her crew brought some great bands to town for the festivities, including Sam Quinn & Taiwan Twin, Yarn, Possum Jenkins, Big Daddy Love, and Sam Lewis, who was featured in this blog last month.Other great bands that played The Willow Tree in its first year were Dangermuffin, Sol Driven Train, Ian Thomas & The Band of Drifters, Valley Young, The Howling Brothers, Woody Pines, Zach Deputy, among many others.Considering the plethora of talent that has already graced The Willow Tree’s stage, it is not a stretch to say that the room will soon be a serious player in the regional music scene. Fans – and bands – take notice when word begins to spread about a killer place to see live music. It’s my guess that Teri and The Willow Tree will not be lacking in crowds for some time.I recently caught up with Teri to chat about The Willow Tree turning one.BRO – What led you to open a music venue?TD – My passion for music and the appreciation I have for the people who make it. Music moves my soul every day. I wanted to have a place where those I love to listen to so much could come play and I could introduce them to other music lovers.BRO – Describe what you were feeling the night you opened the doors for the first show.TD – The same thing I have felt this whole past year. It’s very surreal, and I’m not really sure how I got here. But it’s always an overwhelming feeling of gratitude.BRO – Knowing what you know now, do you have one piece of advice you would offer aspiring music venue owners?TD – Not really. Chris Phelps, my friend who runs my other favorite music venue in Lexington, N.C., called High Rock Outfitters, had me read a book called A Rock And A Hard Place. It was written by the guy who opened The Handlebar in Greenville, S.C. It was his perspective on how hard it can be. That helped me see that everyone who is involved in music isn’t in it for the love of music. I think that it’s important to love it and appreciate those who make it. I think that’s been what has made us successful thus far. It also makes it all worth it when you aren’t making any money, which is all the time. My payment comes from the music and from making people happy.BRO – Cast any and all budgetary worries aside and book your dream show. Who would it be?TD – I have a vision board of all those bands I hope will play for us one day. Many have come true already. Sam Quinn played this week and sold out. Yarn and Big Daddy Love was our double header grand opening show and it also sold out. Having Elephant Revival was a huge show for us and a dream come true. Other dream shows are Gregory Alan Isakov, Joe Purdy, and The Black Lillies.For more information on The Willow Tree, including hours, location, and event calendar, surf over to their website. Already, there are some great shows on the horizon. Emi Sunshine will be there this Saturday, while Jalopy Junction and Megan Jean & The KFB hit the stage next weekend. If you feel like checking out a show at The Willow Tree, shoot me an email at with THE WILLOW TREE in the subject line. Teri has offered up a couple tickets and a couple drinks – caffeinated or fermented, your call!! – to the show of your choice. A winner of this special offer will be chosen from all emails received by noon on Friday, February 6th.last_img read more

Appalachian Trail Conservancy urges Congress to consider Trailside communities in stimulus packages

first_imgIn mid-March, the Appalachian Trail Conservancy submitted a letter to the Appropriations Committees in the U.S. Senate and U.S. House of Representatives asking them to take special consideration of the Trailside communities that rely on outdoor recreation dollars in upcoming stimulus packages. The closure of the AT is likely to have deep economic impacts on these rural Trailside communities. “We are excited to support these communities and these projects because we want to make sure that every Georgian has a chance to get outdoors,” said Mark Williams, Commissioner of the Department of Natural Resources. “We’ve seen public access dramatically increase through the many great trails built in partnership with RTP, and we are looking forward to even more.”  The Georgia Department of Natural Resources has selected the recipients of the Georgia Recreational Trails Program grants for construction and rehabilitation of trails. Selected applicants are now asked to submit final applications for their proposals, which will result in nearly $2.5 million of funding to support outdoor access in Georgia, according to a press release. Georgia DNR announces 12 grants through the Recreational Trails Program Tour de France postponed due to COVID-19 The world’s most famous cycling event has decided to postpone amidst the global pandemic. The three-week race is still scheduled to take place in 2020 but has received a new start date of August 29. The race will run until September 20. The route of the Tour de France will remain the same. Appalachian Trail Conservancy urges Congress to consider Trailside communities in stimulus packages “Many of these communities are in the early stages of building small businesses focused on serving the outdoor recreation community,” the ATC wrote in the letter. “Many Trail-related businesses will not survive the impact of travel restrictions and attempts to limit the spread of COVID-19. Economic stimulus legislation under development now in Congress needs to generate the necessary income and workforce development for rural communities to recover quickly.” “We would like to thank all of cycling’s stakeholders, the Tour de France’s partners, its broadcasters as well as all of the local authorities for their reactivity and support,” the organization said in a statement. “We all hope that the 2020 Tour de France will help to turn the page on the difficult period that we are currently experiencing.”last_img read more

Change your credit union’s point of view

first_img 46SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Anthony Demangone Anthony Demangone is executive vice president and chief operating officer at the National Association of Federal Credit Unions (NAFCU). Demangone oversees day-to-day operations and manages the association’s education, membership, … Web: Details A number of my colleagues and I were in a meeting recently.  Issue du jour?  Did a third-party product make sense for NAFCU and its member credit unions?We chatted a good deal about important issues:PriceUtility, both for us, and our membersHidden costs, in terms of consulting and in-house staff attentionIt was a good discussion.  At one point in the meeting, however, we had to ask ourselves this question: How would Dan view this from his seat?  (“Dan” is Dan Berger, NAFCU’s CEO.)  Given Dan’s concerns, which include balancing the budget, answering to the board, executing NAFCU’s strategic plan, etc., what would he want to know?  What questions would he ask?Based on the new point of view, it quickly became apparent that we were in no position to recommend moving forward.  We needed more data.  A good deal more.Changing your point of view is essential.  As agents of a corporation (be it a trade association, or a credit union), we all work on behalf of someone else. The more we can view things from their point of view, the better.last_img read more

Transform expectations

first_imgAfter a busy week slaying the dragon, I opened my mail as soon as I got home. Included were two separate statements from the same credit union, both containing an 8-page, heavyweight, glossy quarterly newsletter. Two accounts warrant two statements, I guess? Clearly, this credit union doesn’t speak for the trees.I’m not adverse to print, and I actually like the thickness of the newsletter, but the design hasn’t changed in over 20 years. I’m not kidding. Zero change. And I get a little miffed that the “seasonal” promotion for 1.99% APR for 60 months on a new, pre-owned or refinanced vehicle has been promoted for at least five straight quarters.The auto loan special is no longer special. In fact, it never really was. There’s no value proposition. There’s no brand story. It’s just… dull. And while it says the low rate will end December 31, I’ll let you know in January if it actually does.After opening the mail, dropping off the workbag and feeding the cat, our family ventured out to Chicora Alley, one of the few table service restaurants in my bedroom community. They call their dishes “Caribbean Southern fusion.” continue reading » 11SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Dürr leaves Ludewig a tough legacy

first_imgINTRO: Next month Heinz Dürr passes the reins of German Railway to Johannes Ludewig, an economist who is close to Chancellor Kohl. Inheriting a 40000 km railway halfway through an ambitious programme of reforms, Ludewig must tackle numerous unfinished tasksHEINZ DÜRR may be leaving his post as Chairman of German Railway next month after overseeing what is widely held to be a successful reform, but the process is far from over. While Dürr was instrumental in piloting the reforms on to the German statute book, he was fortunate in being able to work with a transport minister who was equally keen to steer the project through. Appointed in 1990, the former chief executive of AEG also oversaw the huge changes that followed the fall of the Iron Curtain, and in particular the merger of East Germany’s State Railway with what was the West’s Federal Railway. It was no mean feat.But while DB and the government have trumpeted the reforms as a great success, an assessment of DB’s performance published in March by the federal audit office was heavily critical. The report suggested that the objectives set for the reform process had not been achieved – market share of freight traffic had fallen, for example.This prompted DB to issue a statement saying that it was no longer subject to the audit office’s scrutiny because it was organised as a private-sector company, and auditing was now in the hands of an independent organisation. After three years turnover was up 6%, the volume of passenger traffic was up 16% and DM41bn had been invested.Second phaseYet as Dürr hands over his offices in Frankfurt and Berlin (once the headquarters of East Germany’s Stasi secret police) to Dr Johannes Ludewig, one of Chancellor Kohl’s trusted economic strategists, much remains undone.Preparing the railway for the second stage of the reform process will exercise much of Ludewig’s attention. An important objective will be to establish the four business sectors, Network, Long-distance Passenger, Short-distance Passenger and DB Cargo, as stand-alone subsidiaries. There is a possibility of floating the operating companies in 2002, but the Network subsidiary will remain in public hands as to do otherwise would require a change in Germany’s basic law.While overseeing the numerous investment commitments made by his predecessor, Ludewig will also have to tackle the controversial issues of asset and staff productivity and the future of lightly-used regional lines.Better productivity essentialTo this day huge fleets of DB’s locomotives and passenger rolling stock lie apparently idle for long periods in depots round numerous major cities, and the statistics published in Rail Business Report 1997 suggest that German motive power is used less efficiently than in any other major West European country apart from Belgium. While statistical comparisons must be treated cautiously, it is extraordinary that Dürr should have approved orders for new locomotives on the basis of one-for-one replacement of the existing fleet. Where is the ’improved efficiency’ so often served up as proof of the success of the reforms?Similar considerations apply to staffing levels. Dürr acknowledges that too many staff are employed in the network business sector, while DB’s workshops offer ’great potential’ for rationalisation. Whether Ludewig will be free to hand the workshops to Germany’s ever-hungry private industry remains to be seen.The perceived threat of large scale closures of rural routes (p385) has encouraged strong media interest. This is partly related to DB’s strategic network review and the Netz 21 concept.Dürr outlined the Netz 21 proposals to the parliamentary transport committee in April, saying that it would permit network capacity to be more than doubled. This will be achieved by concentrating trains running at similar speeds on to the same routes – in many cases this means assigning specific tracks to fast passenger trains and reserving others for freight.A start is to be made next year on three corridors where passenger and freight trains will run largely on separate tracks:last_img read more

Intercity 2000 deliveries start this year

first_imgINTRO: The first of 10 tilting trainsets for Spanish National Railways’ Madrid – Valencia route will be delivered this month and enter revenue service at the end of May 1998 ORDERED on January 30 1996, the Intercity 2000 is derived from Italian Railways’ ETR460 Pendolino, and fitted with Fiat’s active tilt system. An initial fleet of 10 three-car sets is being built by GEC Alsthom Transporte and Fiat for Pts9·05bn; each will seat 189 passengers. With a top speed of 220 km/h, the IC2000s are expected to cut journey times over existing infrastructure by around 25%. The first units will be deployed on the Madrid – Valencia route, where the current best journey time is 3h 50min, and possibly from Madrid to Alicante.The trains are being built at GEC Alsthom Transporte’s Santa Perpetua de Mogoda and Albuixech factories. Each comprises two outer motor cars and a central trailer, all with aluminium bodyshells. Each motor car has a cab and two body-mounted three-phase asynchronous traction motors; one has 76 ’Turista’ (second class) seats, the other 36 ’Preferente’ (first class) and 40 ’Turista’. All seats are arranged as 2+2 with a pitch of 900mm, mainly in airline style but with some facing pairs over tables.Two pantographs are mounted on the roof of the central trailer, which also houses traction equipment at one end. In addition to seating for 36 ’Turista’ class passengers and space for a wheelchair, this car contains a bar/buffet, storage areas for refreshment trolleys, a public telephone and an office for the train captain.IC2000 aims to improve Renfe’s competitive position in key corridors by combining shorter journey times with an improved passenger ambience. The latest styling by Giugiaro will give the train a distinct design, and passengers will benefit from roof-mounted air-conditioning, passenger information and entertainment systems. Video screens are installed in the bar area and on the ceiling of each car, with volume controls provided at each seat. Vacuum toilets are fitted throughout, including one that is wheelchair-accessible. The train’s modular electrical equipment is arranged on the principle of redundancy. GEC Alsthom and Fiat have undertaken to ensure 100% availability at peak times and 90% at others, with delays of up to 10min occurring no more than once every 150000 km. IC2000 will be under warranty for 750000 km or three years. oCAPTION: First driving car bodyshell for RENFE’s IC2000 fleet being assembled by GEC Alsthom TransporteCAPTION: Reader Enquiry Numbers:GEC Alsthom Transporte 101Fiat Ferroviaria 102IC2000 in detailLength over couplers mm 81200Width mm 2920Height above rail mm 4123Distance between bogie centres mm 19000Weight tonnes 152Maximum speed km/h 220Maximum output 2·04MWPower supply 3 kV DClast_img read more

Pemex finds two partners for onshore blocks. Zero bids for offshore asset

first_imgMexico on Wednesday organized a bidding for oil companies interested to partner with Pemex for three blocks in Mexico. Three blocks were put on offer, one offshore and two onshore.The shallow water offshore block, containing Ayin and Batsil fields, received no bids. The area was previously described by Pemex as very attractive, with exploration success probability greater than 50 percent, and the nearby preexisting infrastructure that would make the development easier.According to info found on the Pemex website, the Ayin and Batsil fields contain total 3P reserves of nearly 300 million barrels of crude oil equivalent.They cover an area of 1,096 square kilometers with a waterway of 82 meters in the Batsil field and of 176 metres in the Ayin field, a depth that surpasses that of all the fields that Pemex has developed in shallow waters.The block includes a total of 12 wells (10 exploratory wells and two development wells), mainly of heavy crude, as well as medium crude and dry gas.Onshore partners foundDespite Pemex failing to entice interest for its offshore asset, it on Wednesday managed to find partners for the Cárdenas-Mora and Ogarrio onshore blocks.The Egyptian company Cheiron  submitted a winning bid for the Cárdenas-Mora block by making an offer consisting of an initial payment of 125 million dollars, which acknowledges previous investments made by Pemex, as well as additional royalties of 13% and a cash payment of 41.5 million dollars (md), which guarantees that the Mexican State will receive the value of the rent of the oil field.The Cárdenas-Mora block covers a surface of 168 km2 and is located approximately 62 km from Villahermosa, in the state of Tabasco. It contains proven (1P) reserves of 93 million barrels (MMbpce) of light, high-quality crude oil equivalent (39°API).Participation in this block will be divided between Pemex and Cheiron, with 50% each, including some parts of the existing infrastructure, as has been established in the Bidding Terms. Cheiron, which will be the operating company, is a global enterprise with its headquarters in Cairo.Dea for OgarrioThe German company DEA Deutsche Erdoel was the winning bidder of the process for the Ogarrio field. This was achieved by offering an initial payment of 190 million dollars, acknowledges previous investments made by Pemex, as well as an additional royalty of 13% and a cash payment of 213.9 md, which is the highest sign-up bonus ever offered in CNH (Acronym in Spanish for National Hydrocarbons Commission) bidding processes, and which guarantees that the Mexican State will capture the value of the rent of the oil field.Ogarrio is a mature field that is located in the Southeastern Basins. It covers a surface of 156 km2 and lies approximately 65 km off the coast of Coatzacoalcos, in the state of Veracruz. According to Pemex estimates, it contains 3P reserves of 54 MMbpce of high quality light crude oil (37°API). There is the opportunity to increase this field’s production in the short term by interventions to existing wells.Participation will be divided between Pemex and DEA Deutsche, with 50% each, which includes some of the existing infrastructure, as established in the Bidding Terms. The German operating company is a global enterprise, with its headquarters in Hamburg. It maintains a presence in four continents, mainly in Europe and Northern Africa.It is estimated that the production in the fields of Ogarrio and Cárdenas-Mora will increase by at least 30% through secondary recovery processes.Commenting on obtaining operatorship of the Ogarrio field, Thomas Rappuhn, CEO Deutsche Erdoel AG said: “We are very pleased with the acquisition of the operatorship in Ogarrio, which is a meaningful step for Deutsche Erdoel AG to expand in Mexico. Building a long-term business in Mexico, with a portfolio of attractive exploration, development and production assets is part of our strategy.”Offshore Energy Today Stafflast_img read more

I’m out to prove the critics wrong – Yobo

first_img Loading… Promoted ContentWhich Country Is The Most Romantic In The World?7 Train Stations In The World You Wish To Stay At Longer7 Of The Wealthiest Universities In The WorldWhat Happens To Your Brain When You Play Too Much Video Games?Who Is The Most Powerful Woman On Earth?Who’s The Best Car Manufacturer Of All Time?Greatest Movies In History Since 1982Is This The Most Delicious Food In The World?Top 7 Best Car Manufacturers Of All TimeA Lot More People Should See Hanna’s Fantastic Bread Masterpieces2020 Tattoo Trends: Here’s What You’ll See This Year8 Superfoods For Growing Hair Back And Stimulating Its Growth Super Eagles assistant coach, Joseph Yobo, is openly out on a mission to prove every one of his many critics wrong. The former Nigeria senior team skipper was appointment last month after Imama Amapakabo’s sacking. Yobo is now set to make his debut against Sierra Leone next month in Asaba. Criticism against Yobo appointment have been so loud and widespread it all reached the former international. “I know there are nay sayers and people who are talking but now, is the time for me to do the needful and let my work do the talking,” Yobo said via Brila.Advertisement ”Do you know what it means to be the captain of the Super Eagles, and to fill in the role for so long? Read Also:Unity Cup: Yobo Commends Sunday Dare ”I have been through criticism all my life and moreover, I’m working under someone so, the responsibility is not totally on me, ” Yobo added. FacebookTwitterWhatsAppEmail分享 last_img read more

Arnold Motor Supply Midwest Madness Tour primed for June 29-July 5 run

first_imgModifieds and Stock Cars both run for $1,000 to win at the Denny Hovinga Memorial on Thursday, July 4 at Crawford County Speedway in Denison. More information is available at the website and on Facebook. Minimum start money is $150 for the Modifieds and $125 for the Stock Cars. More information is available at the website and by calling 712 830-0214. Also on the program are IMCA RaceSaver Sprint Cars, Hobby Stocks, Northern SportMods and Mach-1 Sport Compacts. National, regional and state points will be given. Also running are Karl Kustoms Northern SportMods, for national and state points. Pit gates open at 4:30 p.m. and the grandstand opens at 5 p.m. Hot laps are at 6:30 p.m. with racing to follow. Pit gates open at 4 p.m. and the grandstand opens at 5:30 p.m. Racing is at 7:15 p.m. Both divisions run for at least $1,000 to win at each show during the June 29-July 5 tour. Modified features are qualifying events for the 2019 Fast Shafts All-Star Invitational ballot. Provisionals will be given to the top two in track points who do not qualify in both divisions. Modifieds run for at least $1,500 to win, with additional donations and sponsor money to be added to the purse at Stuart Speedway’s Tuesday, July 2 Ron Little Memorial. Top check for the Stock Cars is $1,000. The Friday, July 5 Don Mohr Tribute at I-80 Speedway in Greenwood, Neb., brings the tour to a close. Modifieds run for $1,524 to win and national, regional and state points; Northern SportMods vie for national and state points. Pit gates open at 4 p.m. and the grandstand opens at 5 p.m. Hot laps are at 6 p.m. with racing to follow. Pit gates open at 3 p.m. and the grandstand opens at 4 p.m. Hot laps are at 5:30 p.m. with racing to follow. Fireworks follow the Wednesday, July 3 program at Buena Vista Raceway at Alta. Modifieds run for $1,000 to win and Stock Cars for $1,500 to win the Kyle Suter Memorial. Opening night is Saturday, June 29 at Shelby County Speedway in Harlan, where Modifieds run for $1,500 to win and Stock Cars for $1,000 to win, in addition to IMCA Speedway Motors Weekly Racing National, regional and E3 Spark Plugs State points. Pit gates open at 4:30 p.m. and the grandstand opens at 5:30 p.m. Hot laps are at 7 p.m. with racing to follow. Grandstand admission is $18 for adults, $15 for seniors and $5 for kids. Pit passes are $30. Grandstand admission is $10 for adults, $6 for seniors, students and military with ID, and free for kids ages 12 and under. Pit passes are $30. Grandstand admission is $10 for adults, $5 for kids 6-12 and free for ages five and under. Pit passes are $35 Sunday, June 30 sees the tour at Clay County Fair Speedway in Spencer. Top prize for both Modifieds and Stock Cars is $1,000 with national, regional, state and track points at stake. Also running are Hobby Stocks, Northern SportMods and Sport Compacts for national, regional, state and track points. Grandstand admission is $15 for adults, $7 for kids and free for ages 10 and under. Pit passes are $30 for adults and $15 for kids. Hobby Stocks, Northern SportMods and Sport Compacts also race and national, regional, state and track points will be given in all divisions. Pit gates and the grandstand open at 5 p.m. Hot laps are at 6:45 p.m. with racing to follow. HARLAN, Iowa – Big paydays for IMCA Modifieds and IMCA Sunoco Stock Cars are on the line each night of the inaugural Arnold Motor Supply Midwest Madness Tour. Grandstand admission is $10 for adults, $5 for seniors ages 65 and older, veterans and students ages 13-18; kids ages 12 and under are $2 or free with donation of non-perishable food item. Pit passes are $25 for adults, $15 for ages 6-10 and free for five and under. Park Jefferson Speedway at Jefferson, S.D., pays $1,500 to Modified and Stock Car winners at the Monday, July 1 Iron Cup special. Additional information is available by calling 712 299-5573. Grandstand admission is $15 for adults, $8 for students ages 11-18 and free for 10 and under. Pit passes are $30 for adults, $18 for ages 6-10 and free for five and under. Also running are Hobby Stocks and Northern SportMods and national, regional and state points will be awarded. Grandstand admission is $10 for adults and free for kids 12 and under. Pit passes are $30. The number to call for more information is 641 521-0330. Hobby Stocks, Northern SportMods and Sport Compacts also run with national, regional and state points awarded in all divisions.  Pit gates open at 5 p.m. and the grandstand opens at 5:30 p.m. Hot laps are at 7 p.m. and racing is at 7:30 p.m. More information about Clay County and Park Jefferson events is available by calling 712 267-3278. All events will be broadcast by More information is available at the website and by calling 402 342-3453.last_img read more